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Buy a home in Inverness if you want peaceful life

Inverness is located in Citrus County, Florida. It was incorporated in 1919, according to the city's official documentation. The city is a Florida Trail Association-designated 'Gateway Community'. Inverness holds the distinction as a 'Tree City USA'. The city has over 12 recognized historic locations, all of which are popular tourist hot spots. The crime rate is low. There are five schools in the city. The cost of living is lower than the national average. The city has good transit facilities.
Historic downtown business storefronts on a city block in Jacksonville, Florida.

Inverness is recognized for its natural location

Inverness's recognized parks offer a number of trails for hiking/biking

Inverness is located close to the Flying Eagle Preserve. The McGregor Smith Scout Reservation and the Fort Cooper State Park offer various recreational activities. The Withlacoochee State Trail that follows the historic Atlantic Coast Line Railroad Line is ideal for walking, hiking, biking and skating. The city hosts a number of festivals and events every year. The Great American Cooterfestival is popular with the families since it offers a lot of family activities and music shows. Artists from all over the state come to take part in the Festival of the Arts. Sperling's Best Places predicts that, over the next 10 years, the job growth in the city would be 28.20%. Almost all of Inverness residents commute by car. If you are looking for a quiet life, then Inverness is perfect for you.
Historic downtown business storefronts on a city block in Jacksonville, Florida.
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A home in Inverness is ticket to peaceful living

Earnest can find you a good home in Inverness and get you a mortgage

The whole home-buying process can be a very stressful affair, especially for the first-time home buyers. From finding the right home to closing the deal in the right way, a lot of procedures are involved. However, if you choose Earnest, we can make the wholeprocess a pleasant affair for you. We will find the right home you in Inverness, in the right neighborhood, all based on your preferences. Our online application process is easy and fast. You can always get in touch with our client support team for any queries/issues. Earnest can get you a mortgage with a fair rate as well. If you are worried about your credit score, talk to us and we can find a way around. We can consider your present financial position and your future earning potential and approve your mortgage with a fair rate.
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Common Questions About Buying a Home in Inverness

All The Answers You Need to Settle Down Sooner

Should I choose a fixed or adjustable rate?

It depends how long you expect to stay in the home. Adjustable rates are good for people who may not be in the home long, whereas fixed rates are ideal for people who are confident of settling in.

Do I need a home appraisal?

Probably—in most cases, the homebuyer must use an appraiser to evaluate the value of the home. Appraisal costs vary depending on the value of the property, as well as the state the house is in. Buyers cannot choose their own appraiser—the bank makes the decision.

What is PMI?

Private mortgage insurance (PMI) is required when a homebuyer makes a down payment of less than 20%, or when a borrower refinances with less than 20% equity in the home. PMI fees vary according to your down payment and credit score, and adds a premium to your monthly mortgage payment. Please note, PMI is tax-deductible in 2015 and 2016 for certain income brackets.

What does Loan-to-Value mean?

Loan-to-Value (LTV) is the percentage of your home’s value that your loan represents. When refinancing, the calculation is simply the loan amount divided by the appraised value. When buying a home, the LTV is found by dividing by either the purchase price or appraised amount, whichever is lower. When the LTV is less than 80%, the lender generally requires PMI.

For example:

Purchase price: $100,000
Down payment: $15,000
Loan amount: $85,000
Appraised value: $110,000
LTV: $85,000/$100,000 = 85%

What are closing costs?

Closing costs are standard fees associated with a real estate transaction. You will typically pay about 2-5% of the purchase price in closing costs—the exact amount depends on where you are buying (or refinancing), as well as number of extra fees involved in your particular transaction. Earnest charges no lender fees, so the borrower is only responsible for 3rd-party fees.

What should I consider before refinancing my mortgage?

Refinancing your home loan is an attractive option when rates are low. A simple rate and term refinance can help you lower your monthly payment and potentially eliminate your PMI premium, as long as you have built up enough equity in the home. You might also use a cash-out refinance to access some of the equity you’ve built up in the home (which may result in a higher monthly payment on your new loan).

However, keep in mind that refinancing a mortgage does involve several fees (closing costs). Before refinancing, you should calculate the ‘break-even’ point at which your refinanced loan makes up for the closing costs. If you plan to leave your home before this time, it’s better to stay with your current mortgage.

Knowledge Is (Buying) Power

Further Resources from the Earnest Blog

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The intelligent home loan

When it comes to finding the right home loan, Earnest works hard to ensure that the process pain-free. We use an industry-leading and intuitive online-only application (meaning most times no scanner or fax machine required), a 5-star client service team, and a unique rolling pre-approval that stays current while you track down that perfect home. At Earnest, the home loan process is like no other.